Advanced Micro Devices (NASDAQ:AMD) Downgraded to “Neutral” Rating by Bank of America

Bank of America cut shares of Advanced Micro Devices (NASDAQ:AMD) from a buy rating to a neutral rating in a research report sent to investors on Monday morning, Marketbeat reports. They currently have $155.00 target price on the semiconductor manufacturer’s stock, down from their previous target price of $180.00.

A number of other brokerages also recently commented on AMD. Cantor Fitzgerald restated an “overweight” rating and issued a $180.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Roth Mkm reissued a “buy” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research note on Friday, October 11th. Mizuho decreased their target price on Advanced Micro Devices from $185.00 to $180.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Barclays dropped their price target on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, Citigroup decreased their price objective on Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average price target of $192.36.

Advanced Micro Devices Stock Performance

NASDAQ:AMD opened at $130.87 on Monday. The company has a market cap of $212.38 billion, a price-to-earnings ratio of 117.90, a PEG ratio of 1.91 and a beta of 1.66. Advanced Micro Devices has a 1 year low of $121.82 and a 1 year high of $227.30. The stock’s 50 day simple moving average is $149.48 and its two-hundred day simple moving average is $153.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, meeting the consensus estimate of $0.92. The firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS. As a group, equities analysts anticipate that Advanced Micro Devices will post 2.54 earnings per share for the current fiscal year.

Insider Activity at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 76,496 shares of Advanced Micro Devices stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total value of $10,912,919.36. Following the sale, the chief executive officer now directly owns 3,566,762 shares in the company, valued at approximately $508,834,266.92. The trade was a 2.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total value of $5,743,301.80. Following the transaction, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at $41,558,469.49. The trade was a 12.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 197,036 shares of company stock worth $28,165,821 in the last 90 days. Corporate insiders own 0.65% of the company’s stock.

Institutional Trading of Advanced Micro Devices

Several large investors have recently bought and sold shares of AMD. Creative Capital Management Investments LLC raised its holdings in shares of Advanced Micro Devices by 124.6% during the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 86 shares during the period. ZRC Wealth Management LLC raised its stake in Advanced Micro Devices by 90.4% during the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 75 shares during the period. Morton Brown Family Wealth LLC boosted its holdings in Advanced Micro Devices by 94.4% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 85 shares during the last quarter. Fairway Wealth LLC purchased a new position in Advanced Micro Devices in the second quarter worth approximately $27,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of Advanced Micro Devices during the 2nd quarter worth about $35,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.